SEOUL,
South Korea, May 10, 2024
/PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company,"
today reported its financial results for the first quarter of
2024.
"Coway continues to maintain consistent performance with a
revenue that's surpassed 1 trillion
won for four consecutive quarters," said Soon Tae Kim, Coway's Chief Financial Officer.
"In the upcoming second quarter, the launch of the 2024 Icon Ice
Water Purifier and the continued success of the BEREX (Bed &
Relax) lineup are forecasted to sustain our growth momentum."
Coway's reported earnings are as follows:
- First-quarter revenue: KRW 1,001.8
billion (+5.6% YoY)
- First-quarter operating profit: KRW
193.7 billion (+10.3% YoY)
* The reported figures
are taken from the consolidated K-IFRS (International Financial
Reporting Standards) statement.
|
Domestic business recorded a first-quarter revenue of
KRW 612.3 billion, making a 5.5%
year-on-year increase. This figure reflects the robust sales
performance of both the BEREX lineup and water purifiers.
Coway's overseas subsidiaries reported a first-quarter revenue
of KRW 355.1 billion, up 5.5% from
the same period last year. Notably, the
United States and Thailand
were the key growth subsidiaries, achieving revenues of
KRW 44.9 billion (+15.7% YoY) and
KRW 29.8 billion (+36.2% YoY)
respectively.
For additional details about Coway's financial performance,
please visit the company's Investor Relations page.
About Coway Co.,
Ltd.
Established in Korea in 1989, Coway, the "Best
Life Solution Company," is a leading environmental home appliances
company making people's lives healthy and comfortable with
innovative home appliances such as water purifiers, air purifiers,
bidets, and mattresses. The company's most recent venture, the
BEREX brand, aims to improve sleep and wellness through
cutting-edge mattresses and massage chairs. Since being founded,
Coway has become a leader in the environmental home appliances
industry, with intensive research, engineering, development, and
customer service. The company has proven dedication to innovation
with award-winning products, home health expertise, unrivaled
market share, customer satisfaction, and brand recognition. Coway
continues to innovate by diversifying product lines and
accelerating overseas business in Malaysia, the USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in
Korea. For more information, please visit http://www.coway.com/ or
http://newsroom.coway.com.
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SOURCE Coway Co., Ltd.